The term "Marketing Myopia" was coined by economist Theodore Levitt in the 1960s. He did so to warn managers and company directors that consumer wants and desires are more important than products.
In other words, market myopia or marketing myopia are terms that define situations in which a company's directors focus their strategic positioning and advertising efforts on the product they are selling instead of focusing on the needs of consumers, which can also happen in e-commerce companies. Learn about the risks of this below!
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MARKET MYOPIA: RISKS
The problem with market myopia is that, by adjusting strategic, tactical, and operational planning based solely on the product, you run the risk of losing market share to your competitors.
As an example, one of the most emblematic cases of market myopia is that related to Kodak. Kodak was one of the largest manufacturers of photographic products in the 20th century. The company's business was selling film for analog photography. Its directors, very focused on this product, did not realize that – with the arrival of digital technologies – consumer needs had changed.
Thus, by insisting on the analog film trade, Kodak lost space in the photographic market to companies that saw the new needs of consumers and began to develop digital cameras.
Fortunately, today there are modern tools such as " Value Proposition Design " and " Business Model Canvas " that allow e-commerce entrepreneurs like you to create a business focused on consumer needs and thus avoid market myopia.
